"The Fed will stay the course and it will be
business as usual & even if the fed did get audited, it would be
interesting to see who it would be doing the auditing. Nothing like the
monkey guarding the banana plantation"

Exactly. Well said. :)

Comment by Edwin Sumcad

Entered on: 7/11/2009 3:09:20 AM

Rage instead of reason is not the way to argue against the Fed’s independence out of the claws of politicians.

Know and understand if you can, that if the Federal Reserve of the United States loses its independence in fiscal and monetary policy-making to publicity-starved politicians in Congress and its economic function politicized in the guise of “audit”, the people – specifically investors and entrepreneurs -- will lose confidence in the financial system the effect of which will be so catastrophic that chaos will ruin the market followed by economic collapse.Ignorant critics of the Fed, especially those outside of the economic discipline, are not aware of this deleterious outcome.

Ignorance on how the Fed stabilizes a volatile economy through independent fiscal and monetary monitoring, regulatory supervision and management is not only horrendous but extremely dangerous!

If political scavengers have their way, they could destabilize and destroy the economy at the wink of an eye.

For example, when election approaches, expect each and every politically correct politician in Congress to come out with their own “expertise” on different versions of monetary policies aimed at capturing votes.For as long as they gain support and get elected to office, it doesn’t matter if the economy goes down the tube.If it does it will always be the fault of their political opponent if not the “blunder” of the Fed that they messed up.

Lolo …07/11/09.

Comment by Rod Souza

Entered on: 7/10/2009 9:01:37 PM

What kind of Orwellian double speak bull shit language was this all about? These banksters are the true rapers.

Please excuse the language, but I was always told that there are times when strong language is necessary to make your point to get the message through.

The Fed will stay the course and it will be business as usual & even if the fed did get audited, it would be interesting to see who it would be doing the auditing. Nothing like the monkey guarding the banana plantation

Comment by Rocky Frisco

Entered on: 7/10/2009 3:38:23 PM

About damned time somebody put a "chill" on these filthy pirates. What are they really scared of ?? Certainly not anything related to our national or individual well-being. Maybe if we find out the truth, these lying bastards will end up on the end of a rope. I certainly hope so.